Little Rock USDA Loan Rates, Closing Costs & Stats
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR
USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.
Little Rock's 47 lenders originated 244 USDA loans during 2023. The total origination value was $43,640,000, with an average USDA loan value of $178,852.
Little Rock USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Little Rock
averaged
6.71%
for the week of 2024-07-19, compared to the national average (all USDA variants) of
6.628% for the same period.
Little Rock's average USDA mortgage closing costs are $4,430.
The average rate for the prior week (2024-07-12) was
6.63% and
one month ago for the week of 2024-06-14, the
average rate was 6.47%.
The average rate one year ago was 6.52%.
For refis of the same type during the week of 2024-07-19, the average rate
was 6.55%.
Little Rock USDA Loan Lenders by Rates & Fees
The below table looks at the average fees/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Little Rock level.
The top Little Rock USDA lender as defined by loan originations is FirstTrust Home Loans, Inc., with
54 USDA loans originated. Their average total fees are
$6,516, which is $355
lower than the next largest lender,
CORNERSTONE HOME LENDING, INC..
The lowest fee Little Rock USDA lenders (with over 10 loans originated) are
Eagle Bank and Trust Company ($5,955), FLAT BRANCH MORTGAGE, INC. ($6,313), FirstTrust Home Loans, Inc. ($6,516), PRIMARY RESIDENTIAL MORTGAGE, INC. ($6,610) and CORNERSTONE HOME LENDING, INC. ($6,871).
The lowest rate Little Rock USDA lenders (with over 10 loans originated) are
Eagle Bank and Trust Company (6.49%), CORNERSTONE HOME LENDING, INC. (6.68%), FirstTrust Home Loans, Inc. (6.79%), PRIMARY RESIDENTIAL MORTGAGE, INC. (6.82%) and FLAT BRANCH MORTGAGE, INC. (6.83%).